Inspire Investing LLC Takes $1.70 Million Position in Global Industrial Company $GIC

Inspire Investing LLC purchased a new stake in shares of Global Industrial Company (NYSE:GIC) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 54,056 shares of the company’s stock, valued at approximately $1,704,000. Inspire Investing LLC owned approximately 0.14% of Global Industrial at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New York State Teachers Retirement System purchased a new stake in Global Industrial in the 4th quarter valued at about $38,000. Advisors Asset Management Inc. grew its holdings in shares of Global Industrial by 234.9% in the fourth quarter. Advisors Asset Management Inc. now owns 2,502 shares of the company’s stock valued at $73,000 after acquiring an additional 1,755 shares in the last quarter. State of Wyoming purchased a new stake in shares of Global Industrial during the second quarter valued at approximately $117,000. State of Alaska Department of Revenue increased its position in shares of Global Industrial by 111.4% during the fourth quarter. State of Alaska Department of Revenue now owns 4,562 shares of the company’s stock valued at $133,000 after acquiring an additional 2,404 shares during the last quarter. Finally, Martingale Asset Management L P bought a new stake in Global Industrial during the fourth quarter worth $214,000. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

Global Industrial Trading Down 1.1%

Shares of NYSE GIC opened at $33.50 on Wednesday. The stock has a fifty day simple moving average of $31.42 and a two-hundred day simple moving average of $31.36. Global Industrial Company has a 1-year low of $26.40 and a 1-year high of $38.79. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.12 and a beta of 0.79.

Global Industrial (NYSE:GIC) last issued its earnings results on Tuesday, May 5th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). Global Industrial had a net margin of 5.33% and a return on equity of 23.53%. The firm had revenue of $350.40 million during the quarter, compared to the consensus estimate of $344.13 million. Analysts forecast that Global Industrial Company will post 1.89 EPS for the current year.

Global Industrial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 18th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, May 18th. Global Industrial’s payout ratio is currently 58.03%.

Wall Street Analyst Weigh In

GIC has been the topic of several research analyst reports. Wall Street Zen cut Global Industrial from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings lowered Global Industrial from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Global Industrial currently has a consensus rating of “Hold”.

Global Industrial Profile

Global Industrial Company (NYSE: GIC) is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company’s product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.